Dexcom Q3 Earnings Beat Street, Raises FY21 Outlook Ahead Of G7 Launch

Dexcom Inc's DXCM Q3 adjusted EPS of $0.89 though lower than $0.94 posted a year ago, came in sharply above the consensus of $0.63.
Sales increased 30% Y/Y to $650.20 million, surpassing the consensus of $617.82 million.
Volume growth and strong new customer additions continue to be the primary driver of revenue growth as awareness of real-time Continuous Glucose Monitoring (CGM) increases.
The Company achieved an adjusted gross margin of 68.7% versus 68% a year ago.
Adjusted operating income increased from $95 million to $123.8 million.
Dexcom ended Q3 with $2.70 billion in cash, cash equivalents, and marketable securities.
"We are pleased to once again be in a position to raise our full-year revenue and margin guidance as we drive toward a strong conclusion of 2021 and the upcoming launch of our Dexcom G7 system," said Kevin Sayer, Chairman, President & CEO.
Guidance: Dexcom forecasts revenue of $2.425 billion - 2.450 billion (consensus of $2.4 billion) compared to prior guidance of $2.35 billion - $2.4 billion.
Price Action: DXCM shares traded higher by 2.40 at $584 on the last check Friday.

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